Race to build green intensifies in the UAE

Race to build green intensifies in the UAE

More than a decade ago, in January 2012, in keeping with the UAE’s ability to foresee much in advance the needs of its people and the world, His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai launched a long-term national initiative to build the nation’s green economy. With the slogan, A Green Economy for Sustainable Development powering the initiative through, the UAE today is doing what it takes to be a world leader in this area and become a centre for the export and re-export of green products and technologies, while helping maintain a sustainable environment to support long-term economic growth. But what, you may ask, has all this got to do with the nation’s burgeoning real estate sector? Evidently, a lot. Last month, in a major announcement by Abu Dhabi based Aldar Properties, as reported by WAM, the real estate development management and investment company committed to investing Dh25 million for energy retrofit projects in 13 of its residential communities. The move is expected to reduce utility consumption for owners and tenants as part of the company’s efforts to make its communities more energy efficient and environmentally friendly.